1 The importance of IT in Business

2 The success of every business depends on certain factors. Some of which are accurate analysis,
3 choosing the right technology and the future vision. Research from the last two decade has
4 proved that those organizations that do invest in technology and choose the path of innovation
5 increase their market share, financial figures and overall competitiveness. Information
6 technology is the only technology which provides you the opportunity to analyse specific data
7 and plan your business journey accordingly. It also provides you many tools which can solve
8 complex problems and plan the scalability (future growth) of your business. In the modern age, it
9 is proved that digital marketing is a great tool which let you promote your products or services to
10 the global market while sitting in the comfort of your remote office or home. And thanks to the
11 cloud computing and modern communication which enable you to form a global organization,
12 manage and monitor its virtual offices all over the world. Now I will briefly explain how
13 information technology plays a vital role in different phases of business.

14 Decision Making
15 Speed and accuracy are at the heart of making right decision for your business. Every successful
16 organization has to go through a comprehensive market research process which enables
17 management to make the right decision.  Market research can be done in many ways through
18 online surveys, forums, blogs, and group discussions using World Wide Web and of course
19 through in-person interviews as well. Currently Big data, Google Analytics and Microsoft CRM
20 Dynamics are also great tools to extract useful information which can impact on decision
21 making. These online tools not only provide real time responses from the potential audience but
22 also ensure the accuracy of data by minimizing the risk of human errors.

23 Marketing and Business Growth

24 The heart of the business success lies in its marketing which enables the management to identify
25 its target audience first and then observe their trends and needs. The overall marketing covers
26 public relation, advertising, promotion and sales which subsequently impact on business growth.
27 Many types of marketing can help you reach your potential customers. But I will briefly explain
28 digital marketing here which was the dream in the past without Internet technology. Digital
29 Marketing is a modern phenomenon which let you promote your products or services all over the
30 world. It is a broad term which includes many concepts like search engine optimization (SEO),
31 pay per click (PPC), blogging, discussion forum, email shot, SMS, MMS, social media
32 marketing and Smartphone app advertisement etc. Currently web market is booming at a very
33 fast pace because most of the entrepreneurs have understood that the long term success in
34 business is not possible without digital presence on the internet. Millions of new websites are
35 being added on the internet every year.

36 Customer Support and Satisfaction

37 Higher level of customer satisfaction is the key to success which cannot be achieved without a
38 real time customer support process. Business success depends on knowing its customers needs,
 1 trends, behaviours and satisfaction level. Effective communication is the best tool to understand
2 the customer demands, problems and their solutions. Thanks to the Internet Technology that has
3 enabled us to communicate with millions of potential or existing customer in the real time. IT
4 provides many channels to communicate with the customer without going out in snow or rain.
5 Some of these channels are email, webinar, social media, member portals, online newsletters and
6 text or multimedia messaging through the smart phone.  Enterprise organizations normally use
7 customer relationship management systems (CRM) to hold valuable data for understanding
8 customer behaviours and future needs.

9 Resource Management and Globalization

10 Resource management plays a crucial role in business success. When it comes to medium or
11 large organization, it is very hard for the top management to manage all the resources manually.
12 These resources may include tangible, financial or human resources etc. Information technology
13 has played a vital role in automating such complex problems by introducing user friendly
14 solutions. A decade ago, most of the resource management solutions were desktop based. Thanks
15 to the internet and cloud technology which enables software engineers to introduce cloud based
16 ERP (Enterprise Resource Planning) solutions. Now, the managers can manage or monitor their
17 organizational resources virtually anywhere in the world by using their personal computer,
18 laptops, tablets or Smartphone. This concept has introduced the idea of globalisation. Most of
19 multinational companies (Microsoft, Google, Amazon, McDonalds etc) in the world use these
20 cloud based solutions to manage their virtual or physical offices and staff worldwide.

21 Conclusion
22 I think, it is impossible to attain long term business success without leveraging the benefits of
23 information technology in this digital age. The companies have to bear a reasonable cost to
24 achieve this success because using an innovative approach in business strategy, employing
25 highly trained IT professionals and making right decisions at right time are the prerequisite of
26 business success. As IT solutions continue to increase the productivity, efficiency and
27 effectiveness of business operations and communication, business will continue to rely on
28 Information Technology for success.

29 The rise of information technology has paved the way for various innovations. With the
30 digitization of information, more and more businesses are increasingly leveraging the
31 benefits of digital tools to improve their prospects. Information technology has been crucial
32 in turning this process into a complete success.

33 Information technology has dramatically transformed the lives of individuals. It provides

34 businesses the scope to analyze data and plan business strategies accordingly. Utilizing
35 information technology means that the data analysis is accurate, thus optimizing profits.

36 Information technology has had a major impact on various aspects of businesses. Let’s take
37 a look at some of these here.
 1 #1. Cloud Computing
2 The concept of cloud computing is immensely popular among businesses owing to the efficiency
3 in business operations that it provides. Cloud computing utilizes information technology to
4 capitalize on its ability to provide improved agility and time and resource management for
5 businesses.

6 Increasingly, businesses are shifting to the cloud to leverage its many benefits. It has been
7 predicted that more than $1 trillion will be impacted in IT spending by the transition of
8 businesses to cloud computing by 2020.

9 “Cloud-first strategies are the foundation for staying relevant in a fast-paced world,” Ed
10 Anderson, research VP at the analyst firm, Gartner pointed out, “The market for cloud
11 services has grown to such an extent that it is now a notable percentage of total IT
12 spending, helping to create a new generation of start-ups and “born in the cloud”
13 providers.”

14 A good Internet connection and a commendable WiFi connectivity are important to

15 accomplish this.

16 #2. Automation of Business Processes

17 The movement towards increased automation of business processes has gained traction
18 over the years. It improves efficiency and increases workflow considerably.

19 Information technology helps in developing automated processes for businesses. This not
20 only helps in reducing the cost of operation but also saves time. The time saved can be
21 utilized to focus on other tasks, thus speeding up business processes significantly.

22 Processes like billing, tracking metrics, collecting customer data, monitoring certain
23 processes etc. can be automated easily. There are numerous automation software that can
24 be utilized for this purpose.

25 #3. Working Remotely

26 Implementation of information technology provides the ability to remotely access your
27 company’s network. As a result, it equips employees with the ability to get the work done
28 even if they are not physically present at the workplace.

29 Such agility has a number of benefits. Therefore, it has gained massive popularity. In fact,
30 according to a U.S. federal government resource, 47% of the employees are eligible to work
31 remotely.

32 Ian Adams, head of strategic marketing development at the outsourcing company, Mitie
33 pointed out, “We’re seeing greater collaboration between HR, IT, property and facilities
34 management and job titles like ‘workplace director’ making this agile workplace happen.”
 1 #4. Mobile Technology
2 Mobile technology has picked up momentum owing to its convenience, efficiency and
3 speed. With the rise in the popularity of information technology, implementation of mobile
4 technology has gained ground quickly.

5 The trend of BYOD (Bring Your Own Device) is on the rise owing to increased employee
6 satisfaction. As many as 74% of the organizations are already utilizing this trend or plan
7 on doing so in the future. In fact, the BYOD market is estimated to reach $181.39 billion by
8 2017.

9 Mobile technology takes business communication to a whole new level. A mobile team can
10 improve the workplace productivity considerably. There are numerous ways to integrate
11 mobile technology in the workplace. In fact, chances are, your employees are already using
12 it.

13 #5. Protecting Information

14 Every organization has a mammoth database comprising various information related to business
15 transactions, client details and so on. Such information is extremely valuable to a business and
16 can cause a host of legal issues if it is lost. This is where information technology becomes
17 relevant. It provides the right resources to store the information in a way that ensures maximum
18 protection.

19 Virtual storage systems can keep information safe by allowing a limited number of users to
20 access these. Increased protection also ensures that these systems are not hacked and the
21 information is not wiped out owing to some problems. Therefore, information technology helps
22 in upholding business integrity.

23 #6. Providing Customer Satisfaction

24 Customer experience and satisfaction are crucial aspects of all businesses. The key to customer
25 satisfaction is a strong customer support team and its availability to cater to the requirements of
26 the customers.

27 Information technology provides the best tools for communicating with customers and solving
28 their problems in real time. It has unlocked the facilities like Email, social media and other
29 messaging platforms for this purpose.

30 A happy customer-base is important for the growth of a business. Various cloud-based

31 communication channels have made customer experience more improved.

32 #7. Management of Resources

33 A business has a variety of resources. These may include financial resources, human resources
34 and so on. For large organizations, managing resources becomes quite difficult. Information
35 technology plays a vital role in managing these resources effortlessly by introducing a wide
36 range of feasible solutions.
 1 For example, the integration of Enterprise Resource Planning (ERP) has improved the efficiency
2 of various business processes. ERP is a business management software that enables an
3 organization to use a series of integrated applications that can manage and automate various
4 business operations.

5 Information technology is at the core of such software. The implementation of ERP is

6 progressing at a rapid rate with more and more businesses implementing this efficient technology
7 to make certain business processes hassle-free.

8 #8. Open Source Software

9 Information technology has paved the way for various open source software that allow free usage
10 of certain tools for various organizations. The primary benefit of open source software is its
11 flexible license. This allows modifications to the source code. This means that you have the
12 facility to customize its functions according to your requirements.

13 Almost every software that businesses use has open source variants that are widely available on
14 the Internet. Utilizing these could mean multiple benefits at reduced expenses.

15 Such benefits of the increased implementation of information technology have provided

16 businesses with competitive advantages. What matters most is, how businesses are utilizing this
17 technology to maximize their profits and ensure long-term success. Done right, this can help
18 your business scale new heights.

19 Impact on Operating Costs

20 Small business owners can use technology to reduce business costs. Basic enterprise software
21 enables a firm to automate back office functions, such as record keeping, accounting and
22 payroll. Mobile tech allows home offices and field reps to interact in real time. For example,
23 field reps can use mobile apps to record their daily expenses as they incur them and have them
24 sync automatically with accounting software back at the office.

25 Securing Sensitive Information

26 Business owners can also use technology to create secure environments for maintaining
27 sensitive business or consumer information. Many types of business technology or software
28 programs are user-friendly and allow business owners with only minor backgrounds in
29 information technology to make the most of their tools and features

30 Improved Communication Processes

31 Business technology helps small businesses improve their communication processes. Emails,
32 texting, websites and apps, for example, facilitate improved communication with consumers.
33 Using several types of information technology communication methods enable companies to
34 saturate the economic market with their message. Companies may also receive more consumer
35 feedback through these electronic communication methods.
 1 Technology also improves inter-office communication as well. For example, social intranet
2 software gives employees a centralizes portal to access and update internal documents and
3 contracts and relay relevant data to other departments instantly. These methods also help
4 companies reach consumers through mobile devices in a real-time format.

5 Increased Employee Productivity

6 Small businesses can increase their employees' productivity through the use of technology.
7 Computer programs and business software usually allow employees to process more
8 information than manual methods. Business owners can also implement business technology to
9 reduce the amount of human labor in business functions. This allows small businesses to avoid
10 paying labor costs along with employee benefits.

11 Even fundamental business tech can have a major impact on employee performance. For
12 example, by placing employee-performance appraisal information in an online framework,
13 supervisors can easily create measurable goals for their employees to reach and sustain
14 company objectives. Business owners may also choose to expand operations using technology
15 rather than employees if the technology will provide better production output.

16 Broaden Customer Bases

17 Technology allows small businesses to reach new economic markets. Rather than just selling
18 consumer goods or services in the local market, small businesses can reach regional, national
19 and international markets. Retail websites are the most common way small businesses sell
20 products in several different economic markets.

21 Websites represent a low-cost option that consumers can access 24/7 when needing to purchase
22 goods or services. Small business owners can also use internet advertising to reach new
23 markets and customers through carefully placed web banners or ads.

24 Collaboration and Outsourcing

25 Business technology allows companies to outsource business functions to other businesses in
26 the national and international business environment. Outsourcing can help companies lower
27 costs and focus on completing the business function they do best. Technical support and
28 customer service are two common function companies outsource.

29 Small business owners may consider outsourcing some operations if they do not have the
30 proper facilities or available manpower. Outsourcing technology also allows businesses to
31 outsource function to the least expensive areas possible, including foreign countries.

32

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2 Meetings and Information Technology

3 The social interaction of a business relationship can be discussed in terms of how often people
4 from the companies meet, or how well the parties know each other. It is argued that depending
5 on the extent of the use of information technology for different exchanges, the impact on the
6 social interaction patterns that are carried out without information technology may be influenced.
7 One argument that could be raised in the theorizing on the effect of use of information
8 technology in business relationships is that the number of meetings, or need for meetings will
9 decrease, as the use of the technology handles a great deal of information exchanges, i.e. replaces
10 some of the personal exchange of information. The question is if the need for personal meetings
11 decreases when the levels of information technology use increase. That would suggest increased
12 efficiency of meetings, as the use of information technology then replaces other means of
13 interaction for some types of exchanges. On the other hand, the use of information technology
14 may require additional meetings, if the technology is difficult use or the purpose of its
15 employment is another than making the information exchange more efficient by decreasing the
16 need for meetings. The reasons why the use of information technology in business relationships
17 would decrease or increase the need for personal meetings can only be speculated on. This paper
18 analyses the extent to which the need for personal meetings has decreased or increased in the
19 investigated business relationships as a result of the use of information technology, as well as to
20 the extent which such a change is related to levels of lower and higher of information
21 technology. If the use of information technology affects the need for personal meetings, and that
22 effect is related to when the use is lower or higher, it is interesting to analyze why and how the
23 need for personal meetings is affected by the use of information technology.

24 In order for companies today to remain relevant and competitive, they look to new trends in
25 technology to see what can greatly benefit their business. Some may even want to be cutting
26 edge and stay ahead of the curve by being the first adopters of new technology. Whether you’re a
27 trendsetter or a bandwagon, adopting new technology will always present challenges.
28 Here are some of those challenges and what you can do to overcome them.

29 #1 Adopting new technology for technology’s sake

30 A lot of new technology is useful, but is it useful for your company? Does it answer your needs?
31 A shiny new toy looks great at the start, but as it loses its wow factor, you may eventually realize
32 you just bought yourself a very expensive paperweight. Before buying new technology, do some
33 research to know if it will actually be useful to your operations.

34 #2 Proper implementation and incorporation of new technology

35 Taking advantage of everything that new technology has to offer is not enough. You must be
36 able to integrate it into your existing processes to fully realize its potential. Otherwise, you may
37 end up having to needlessly overhaul your whole system, which will take up more time and
38 effort. Ideally, you should strive for the least disruption and need for training when incorporating
39 new technology into your existing systems.
 1 #3 Not getting everyone on board the new technology
2 Some people are early adopters; they quickly embrace new technology and can’t wait to
3 use it. Others are more resistant and prefer the comfort of the familiar. You will always
4 have those two (and variations in between) in your staff. The former don’t need
5 convincing, while the latter need to be won over. You can do this by involving them in
6 the selection and planning process and showing them that the new technology will be
7 beneficial for them. Allow them to express their concerns, and find a way to address
8 them. Set clear expectations that all those who need to use the new technology must
9 ultimately meet.

10 #4 Inadequate staff training for the new technology

11 Even if a new technology claims to be “user-friendly,” employees still need to be trained. Not
12 everyone can take to new technology so easily, so a little assistance is needed to make sure
13 everyone’s on board. It also helps eliminate first-time users’ mistakes, some of which can be
14 quite costly.

15 #5 Monitoring your data and progress

16 Today’s new technology lets you monitor the data it collects, so you get a picture of how people
17 are using it and whether it's being used efficiently or not. Monitoring data not only gives you
18 insight on your processes and systems, but it also helps you track your company’s progress. You
19 can identify areas of success and points for improvement, and communicate them to your
20 employees. Monitoring your data helps you measure your progress towards your goals.

21 #6 Not anticipating the needs of the users

22 When considering new technology, it’s best not to replicate what’s already existing. Because
23 then you’re merely following what others, especially your competitors, are already doing. To
24 surge past your competitors, you should think more like a leader and invest in technologies that
25 anticipate your customers’ needs and wants.

26 #7 New technologies, new security vulnerabilities

27 New technologies go through a maturity cycle; the early phase can be rife with security
28 vulnerabilities. Adopting new technologies may expose your company to new security threats, so
29 it’s important to cultivate a culture of learning and of quick responsiveness. That way, your
30 people learn to anticipate rather than just react to changes.

31 #8 The challenges of regulations

32 Because they introduce new features and processes, new technologies can sometimes be at odds
33 with existing regulatory bodies. It now falls on you to lead your industry to lobby for changes in
34 the regulations.
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